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Billionaire Kretinsky Says He Won’t Boost Eviden Stake After French Concerns

2023-08-04 07:27
Czech billionaire Daniel Kretinsky will not increase his stake in Atos SE’s big data and cybersecurity business, Eviden,
Billionaire Kretinsky Says He Won’t Boost Eviden Stake After French Concerns

Czech billionaire Daniel Kretinsky will not increase his stake in Atos SE’s big data and cybersecurity business, Eviden, beyond 7.5%, and won’t have any “active role” in the company, his spokesperson said in response to concerns from French lawmakers.

Nearly 80 politicians signed a letter that ran in the newspaper Le Figaro this week, raising concerns that the business, which does work for the military and is developing supercomputing capabilities, could pass out of French control.

Atos is in talks with Kretinsky for the potential sale of its legacy unit, Tech Foundations. The rest of Atos, including sensitive supercomputers, will remain listed under the Eviden brand. French lawmakers raised concerns about a foreigner being involved in Eviden, as its supercomputers are used by the nuclear industry.

Kretinsky understands Eviden’s strategic importance and will “fully respect national sovereignty,” his spokesperson said. “The parliamentarians’ concern is legitimate, but it is based on an assumption that will not prove true.”